HB 0489 2003
1	A bill to be entitled
2	An act relating to motor vehicle insurance; amending s.
3	627.7283, F.S.; requiring an insurer to refund the entire
4	unearned premium to any member of the armed services who
5	cancels a policy under certain circumstances; providing an
6	effective date.
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8	Be It Enacted by the Legislature of the State of Florida:
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10	Section 1. Subsection (4) of section 627.7283, Florida
11	Statutes, is amended to read:
12	627.7283 Cancellation; return of premium.--
13	(4) If the insured cancels, the insurer may retain up to
14	10 percent of the unearned premium and must refund at least 90
15	percent of the unearned premium. However, the insurer must
16	refund 100 percent of the unearned premium if the insured is a
17	member of any branch of the United States Armed Services,
18	whether an active or a reserve member, who cancels because he or
19	she has been called to active duty or transferred by the armed
20	services to a location where the insurance is not required.If
21	the insurer cancels, the insurer must refund 100 percent of the
22	unearned premium. Cancellation is without prejudice to any claim
23	originating prior to the effective date of the cancellation.
24	For purposes of this section, unearned premiums must be computed
25	on a pro rata basis.
26	Section 2. This act shall take effect upon becoming a law.
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